Dynamic Stochastic General Equilibrium models
GPTKB entity
Statements (51)
Predicate | Object |
---|---|
gptkbp:instanceOf |
macroeconomic model
|
gptkbp:abbreviation |
gptkb:DSGE_models
|
gptkbp:application |
monetary policy analysis
fiscal policy analysis business cycle analysis |
gptkbp:assumes |
market clearing
intertemporal optimization representative agents |
gptkbp:component |
gptkb:economic_policy
gptkb:government households firms |
gptkbp:criticizedFor |
gptkb:Joseph_Stiglitz
gptkb:Paul_Romer gptkb:Olivier_Blanchard excessive reliance on rational expectations lack of empirical fit simplifying assumptions |
gptkbp:developedBy |
1980s
|
gptkbp:feature |
dynamic optimization
rational expectations general equilibrium microeconomic foundations stochastic shocks |
https://www.w3.org/2000/01/rdf-schema#label |
Dynamic Stochastic General Equilibrium models
|
gptkbp:mathematicallyFormulatedAs |
system of equations
|
gptkbp:mayInclude |
nominal rigidities
price stickiness wage stickiness financial frictions |
gptkbp:notableFigure |
gptkb:Edward_Prescott
gptkb:Finn_Kydland gptkb:Robert_Lucas_Jr. gptkb:Thomas_Sargent gptkb:Lars_Peter_Hansen gptkb:Christiano,_Eichenbaum,_and_Evans |
gptkbp:originatedIn |
real business cycle theory
|
gptkbp:relatedTo |
gptkb:Overlapping_Generations_models
New Keynesian models Real Business Cycle models |
gptkbp:solvedBy |
gptkb:simulation
calibration estimation |
gptkbp:usedBy |
policy makers
central banks |
gptkbp:usedFor |
counterfactual analysis
policy evaluation forecasting macroeconomic variables |
gptkbp:usedIn |
macroeconomics
|
gptkbp:bfsParent |
gptkb:New_Keynesian_economics
|
gptkbp:bfsLayer |
6
|